Catalyst Extends Deadline for Sale of Elk Falls Site to Pacifica Deep Sea Terminals
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Catalyst Paper, Richmond, B.C., Canada, reports that it has received partial pre-payment of the $8.6 million purchase price for its Elk Falls site in Campbell River, B.C., from Pacifica Deep Sea Terminals Inc. The transaction includes Catalyst's 400-acre industrial site and adjacent properties.
Catalyst has also agreed to grant the purchaser an extension to complete the sale. Progress continues to be made on all outstanding terms and conditions, the company notes.
Sale of the property is the final step in a comprehensive site preparation and sales process that began following the permanent closure of the paper mill in 2010.
Catalyst Paper produces specialty mechanical printing papers, newsprint, and pulp. With three mills in British Columbia, Catalyst has a combined annual production capacity of 1.5 million metric tons.
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